FL S0756

Increases the affordability period requirement for rental units to qualify for zoning variances in commercial, industrial, or mixed-use areas from 30 years to 50 years, requiring at least 40% of units to remain affordable

Requires that developer incentives provided by municipalities (such as density bonuses, fee waivers, or reduced charges) in exchange for affordable housing contributions must be used specifically for affordable housing construction

Lowers the maximum income threshold for the 75% property tax exemption on affordable multifamily housing units from 120% to 100% of area median income

Exempts first-time homebuyers from documentary stamp taxes on property deeds and related loan documents when purchasing a principal residence, if the buyer has not owned a principal residence in the past 3 years and qualifies as a moderate-income person

Adjusts the threshold for taxing authorities to opt out of certain affordable housing property tax exemptions from 0-120% AMI to 0-100% AMI based on Shimberg Center housing availability data